When Paul first introduced his bill a decade ago, it was written off as another piece of his far-flung libertarian worldview is how Politico juxtaposes today's (now successful) vote on Ron Paul's Fed Transparency Bill. "I want to appreciate and congratulate Dr. Ron Paul for his tireless pursuit of openness and transparency," said Rep. Jason Chaffetz (R-Utah). "Without his leadership, we wouldn’t be at this point today." Via Bloomberg:

“I’m pleased. It’s something I’ve worked on for a long time, and it’s a good first step,” Paul told POLITICO. “It’s coming to the floor as a response to the American people, because I don’t have a whole lot of clout around here.”

Paul really doesn’t want this bill to be treated as his swan song in Congress, but to some extent this vote represents a coda to an eccentric congressional career. Paul’s movement has always been stronger outside the Capitol than inside it, yet the fact that at least one of his ideas is starting to break through shows that he may still have some clout on the national stage, even if he’s leaving the congressional payroll and ditching his presidential runs.

And even though a return to the gold standard, legalization of drugs and abolishing the Federal Reserve remain pipe dreams, Paul believes the traction on his Audit the Fed bill does validate his grass-roots, populist approach to monetary policy.

“I like to think of it more as verifying that my approach is a little bit different than just becoming a powerful player and having an influence, versus really changing people’s minds,” he said. “Events have also brought it about because these last five years have been so important to the economy. If the crisis hadn’t hit, I don’t think I could have gotten as much attention.

“Government reflects the people, sometimes that happens slowly,” he said. “When the American people get upset, Congress listens.”

and some useful comments from the opposers of the bill...

Never mind that the Fed audit is dead in the Senate — Majority Leader Harry Reid’s office has said he won’t bring it up.

There are still many Democrats who aren’t convinced, like Rep. Emanuel Cleaver (D-Mo.). “There is an audit of the Fed done every year. It’s not what Dr. Paul prefers, but I think the public has been misled in believing there’s no accountability. That’s not accurate,” Cleaver said. “I do think there are times when members will vote for something they don’t normally like as a tribute to members that are departing. Some of that may happen.”

And Hoyer said no matter how many Democrats are co-sponsors, he still thinks the bill is bad policy — and he’s urging Democrats not to support it.

“Whatever the motivation is, and however broad the sponsorship is, my own view is that it’s bad policy,” Hoyer told reporters on Wednesday. “It will undermine the independence of the Federal Reserve and will, therefore, undermine the competence in the Federal Reserve, which plays a significant role in stabilizing the economy and addressing the creation of jobs.”

Comment viewing options

They email your comments to your House and Senate Reps. for you. It's also interesting to see how others vote around you. Even better, it works! Sen. Brown's Office called me to clarify an issue I commented on.

Not sure what Warren had to do with my comment or this thread. All I was doing was pointing to a viable option for Americans, registered voters or not, to write their CONgressional Representives on issues that are important to them.

If Warren beats Brown, you will be afforded the same opportunity through that site.

Now, since I think we're all fucked anyways by a completely corrupt CONgress, so far it is the only peaceful way to be heard. I would say go vote, but The United States has arguably the worst voter turnout in the free world, not representative of a true Republic.

The House of Reprentatives are the direct wishes of the American People and the Senate are two appointees from the state legislature to represent the interest of that State. At least that's how the Constituion originally had things until Senators became elected with the 17th Amendment.

It's too bad the crooks have fouled things up so badly that the Senate can foil the American people.

Does anyone honestly believe that Harry Reid is worried about financial stability? If he is, then when is he going to support cutting spending? Because that leads us directly toward financial instibility. He must get money from the banks. There's a reason why Obama and Romney are both bankrolled by the same major banks and Ron Paul is not, and this is the reason.

Todays gold and silver action...first time it has been allowed to rise in over two months...I just wonder if TPTB have had to let go of the reins a little with this LIBOR lawsuit comming upon them and maybe...just maybe they think they are going to get caught with their hand in the cookie jar here too....and with another bunch of lawsuits......if PM´s keep going up....to $2,000 in the next month or two...i think I am right on this thesis...and I will have another beer

Jesus the US political system must be the most corrupt and manipulative on the planet. At least Mugabe is blatant in his corruption and oppression of his people. These rats pretend to act in the best interests of the populace. Burn in hell. On second thoughts most of them are probably masochists, sociopaths or satan worshipers anyway and would probably like that

INSCRIPTIONS ON FEDERAL RESERVE NOTES 1913 . . . TO . . . 1934"Redeemable in Gold on demand at the United States Treasury or in Lawful money, at any Federal Reserve Bank.""Will pay to the bearer on demand one dollar."

1934 . . . TO . . . 1968"This note is legal tender for all debts public and private and is redeemable in lawful money at the United States Treasury, or any Federal Reserve bank.""Will pay to the bearer on demand one dollar."

1968 . . . TO . . . 1998"This note is legal tender for all debts, public and private"

Ah..you have noticed a paper trail there. Now, what if they had branches completely outside the USA interacting with each other and issuing those bank notes guaranteed by the wealth (gold, silver, copper coin and even the land) or public credit of the American People?

This is not a “swan song"; this is a black swan. This is not the end of an “eccentric congressional career,” as Politico so tellingly telegraphed its viewpoint.

This is the first nail in the coffin of the Federal Reserve Act; it is all downhill for them from now on because of not Ron Paul but the thousands and thousands of knowledgeable activists he has turned on to this criminal conspiracy that has our nation, and now the world, by the throat.

To say that this represents a swan song is to be obscene. Ron Paul is the man who stood and is still standing.

Ron Paul as a radical... bullshit. the Fed is incredibly corrupt, they FEAR audits and truth... so ending them is radical?? The drug "war"... total crap, super expensive, does not accomplish jack shit, the Gov is deeply involved in this... see CIA rumors... let alone the prison expense... and bringing back sound money... sure what a kook! How the scummy Dems rationalize voting against this bill... they should all be drug through he streets.

The argument that the audit bill would turn Fed policy into a political game is fraud. The bill is aimed at find out if it has not been "politicized" already. (Which we all know it has been for a long time)

I am a right-wing Democrat. I now consider myself an independent after this vote.If even the staunchest Repub's can see that the SHTF,I only wonder what those DEM's have been smoking.There is something smelly in the NYFEDs' basement,a proper stinking turd.That is why the secrecy.Don't lift up the carpet because you won't like what you see crawling out.

The democratic controlled Senate will not even bring this to a vote. It's easy to be cynical on the process. But get real. Do you ever listen to any of the committee hearings and get the feeling that the democrats want to reign this in? Or is it that the easy money train needs to continue to fund more liberalism with the biggest spender in world history at the helm? The tea party ran on trying to stop the spending btw and won overwhelming support in the 2010 midterms and were elected to do just this precise bill. I didn't hear any democrats calling for auditing the fed. That should tell you something. The republicans still only control the house and would inevitably be vetoed by Obama on anything they propose in this regard.

Personally I think people voting for the democrats are simply voting in favor of their social liberalism and against fiscal responsibility. They don't care that are country is going broke. For them other things matter to them much more. At some point fiscal responsibility will matter to everyone but it may be too late.

Harry Reid, what a joke. Nancy Pelosi has a higher testoserone level than he does. He should get Wayne Newtons Plastic surgeon to give him a lift. I am proud to be from Texas with one of the only Representatives that has character and isn't just one. I'm certain that the Fed has dirt on most of the embassasment we have to represent us, like Edgar Hoover did in his hey day. Seems Meyer Lansky had a photo of Edgar and Clyde "flagrante delicto". Never was too clear as to whom was pitching and catching. I guess we just can't get to the truth of this just like 9 11. It never ceases to amaze me how few Americans know the facts of our government. I'd like to see Ben tell Andrew Jackson that he wasn't showing him the books to the Fed. Now that would be comical. Iit makes me physicly sick to see John McCcain and Mitt Romney give Ron Paul condescending looks when neither one is fit to lick the bottom of his shoes. I'm feeling sick thinking of the disingenuous traitors we have to select from our field of candidates to choose. It's like selecting which venerial disease you prefer.

Unlikely to pass the crooked, corrupt, bought off senate? Say it aint so Joe! Disband the Senate. It is without a doubt THE biggest stumbling block to bringing back rule of law in this country and I would venture to say that at least 2/3 of its members are captured by banking interests. Oh well, American Idol is coming back on.